Bank of America Corp DE Sells 306,299 Shares of Kennedy-Wilson Holdings, Inc. (NYSE:KW)

Bank of America Corp DE reduced its stake in Kennedy-Wilson Holdings, Inc. (NYSE:KW - Free Report) by 59.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206,505 shares of the financial services provider's stock after selling 306,299 shares during the period. Bank of America Corp DE owned approximately 0.15% of Kennedy-Wilson worth $2,063,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Van ECK Associates Corp grew its stake in shares of Kennedy-Wilson by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 21,537 shares of the financial services provider's stock worth $215,000 after acquiring an additional 1,995 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Kennedy-Wilson by 0.3% during the fourth quarter. Legal & General Group Plc now owns 727,693 shares of the financial services provider's stock valued at $7,270,000 after buying an additional 2,105 shares during the last quarter. Legacy Capital Group California Inc. boosted its position in shares of Kennedy-Wilson by 12.8% during the fourth quarter. Legacy Capital Group California Inc. now owns 19,466 shares of the financial services provider's stock valued at $194,000 after buying an additional 2,206 shares during the last quarter. KBC Group NV boosted its position in shares of Kennedy-Wilson by 56.3% during the fourth quarter. KBC Group NV now owns 7,632 shares of the financial services provider's stock valued at $76,000 after buying an additional 2,748 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Kennedy-Wilson by 13.6% during the fourth quarter. Signaturefd LLC now owns 24,885 shares of the financial services provider's stock valued at $249,000 after buying an additional 2,976 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Kennedy-Wilson Stock Performance

Shares of Kennedy-Wilson stock traded up $0.10 during trading on Friday, hitting $6.56. 985,776 shares of the company's stock traded hands, compared to its average volume of 716,410. The company has a debt-to-equity ratio of 6.06, a current ratio of 1.18 and a quick ratio of 1.18. Kennedy-Wilson Holdings, Inc. has a 1 year low of $5.98 and a 1 year high of $11.88. The stock has a market capitalization of $906.51 million, a P/E ratio of -2.54, a PEG ratio of 0.54 and a beta of 1.06. The business has a 50-day simple moving average of $6.66 and a 200-day simple moving average of $8.65.

Kennedy-Wilson (NYSE:KW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). The firm had revenue of $128.30 million during the quarter, compared to analysts' expectations of $227.14 million. Kennedy-Wilson had a negative return on equity of 14.09% and a negative net margin of 58.56%. As a group, analysts forecast that Kennedy-Wilson Holdings, Inc. will post 2.87 EPS for the current year.

Kennedy-Wilson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 30th will be given a $0.12 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.48 annualized dividend and a yield of 7.32%. Kennedy-Wilson's payout ratio is -45.71%.

Insiders Place Their Bets

In other news, Director Cathy Hendrickson sold 30,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.62, for a total value of $258,600.00. Following the transaction, the director now owns 98,318 shares of the company's stock, valued at $847,501.16. This trade represents a 23.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William J. Mcmorrow acquired 200,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of $6.36 per share, for a total transaction of $1,272,000.00. Following the purchase, the chief executive officer now directly owns 8,049,517 shares of the company's stock, valued at approximately $51,194,928.12. This trade represents a 2.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 20.30% of the company's stock.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on Kennedy-Wilson in a research report on Monday, February 24th. They set a "hold" rating and a $9.00 price objective on the stock.

Kennedy-Wilson Profile

Kennedy-Wilson Holdings, Inc, together with its subsidiaries, operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and office properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.